MoS Finance Anurag Thakur said the Narendra Modi government would not tolerate corruption, and added "there was a lot to come on the issue".

Union Minister of State for Finance Anurag Thakur claimed all measures were being taken to ensure the safety of depositors’ money and to save the beleaguered private lender. (Express photo by Partha Paul)

Union Minister of State for Finance Anurag Thakur on Monday said some people were causing harm to the country by spreading lies for the sake of politics following the Yes Bank crisis.

Talking to reporters after holding interactive sessions here with industrialists, traders and intellectuals on taxation, Thakur claimed all measures were being taken to ensure the safety of depositors’ money and to save the beleaguered private lender.

The bank’s operations are being probed by Enforcement Directorate and Central Bureau of Investigation, and its founder Rana Kapoor was arrested on Sunday on the alleged charges of money laundering.

The Reserve Bank of India has imposed a moratorium for 30 days on the capital-starved Yes Bank, capping withdrawals at Rs 50,000 per account, and superseded its board with immediate effect.

“I want to assure all Yes Bank depositors that their money is safe. We have sought a report from the Reserve Bank into the matter. The CBI and ED have initiated action against the promoter (Rana Kapoor) of the bank and his relatives,” Thakur said when queried on the issue.

“The promoter of the bank has been arrested and his family members were stopped from going abroad. The SBI has also started it process. We have taken all steps to save the bank and resolve problems of depositors,” he said.

As per the RBI’s draft reconstruction scheme, State Bank of India is expected to pick up to 49 per cent stake in Yes Bank under a government-approved bailout plan.

Taking a swipe at the Opposition, Thakur said, “A few people are creating an atmosphere of fear and speaking lies (on the issue) for politics, and by doing this, they are causing harm to the country and its people.”

Earlier, speaking on the Yes Bank issue at the airport here, Thakur said the Narendra Modi government would not tolerate corruption, and added “there was a lot to come on the issue”.

He said the Modi dispensation, which has given corruption-free governance for the past six years, will continue to take action on those who looted hard-earned money of the people.

Asked about how the government planned to curb imports from China, he said import duty had been hiked in the 2020-21 budget.

He said meetings were being held to study the impact on Chinese imports after the coronavirus outbreak there.

On a question on the reported confrontation between Chhattisgarh and the Centre on sharing the Goods and Services Tax (GST), Thakur said “in a federal structural, cooperative federalism and competitive federalism run together”.

“Every state tries to attract more investment for its growth. The Centre has been allocating GST collection share to states. If there are pending cases, then the amount will be sanctioned in two installments as we have already announced,” he added.